Spero Therapeutics (NASDAQ:SPRO) Issues Quarterly Earnings Results, Beats Estimates By $0.73 EPS

Spero Therapeutics (NASDAQ:SPRO) announced its quarterly earnings data on Thursday. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.73, FiscalAI reports. Spero Therapeutics had a negative return on equity of 125.91% and a negative net margin of 108.11%.The company had revenue of $41.30 million for the quarter, compared to analyst estimates of $26.00 million.

Spero Therapeutics Stock Down 1.7%

Shares of SPRO traded down $0.04 during midday trading on Thursday, reaching $2.37. The company had a trading volume of 454,884 shares, compared to its average volume of 305,399. Spero Therapeutics has a 1-year low of $0.51 and a 1-year high of $3.22. The firm has a 50 day simple moving average of $2.36 and a 200-day simple moving average of $2.30. The stock has a market cap of $133.53 million, a PE ratio of -3.00 and a beta of 1.45.

Insider Buying and Selling at Spero Therapeutics

In related news, insider Esther Rajavelu sold 87,917 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $2.36, for a total value of $207,484.12. Following the completion of the sale, the insider owned 1,012,091 shares of the company’s stock, valued at approximately $2,388,534.76. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Spero Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of SPRO. XTX Topco Ltd purchased a new stake in shares of Spero Therapeutics in the 2nd quarter valued at approximately $100,000. Invesco Ltd. purchased a new stake in shares of Spero Therapeutics during the 2nd quarter valued at approximately $43,000. Vanguard Group Inc. lifted its holdings in Spero Therapeutics by 2.0% in the third quarter. Vanguard Group Inc. now owns 1,989,855 shares of the company’s stock valued at $3,741,000 after acquiring an additional 39,474 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in Spero Therapeutics in the third quarter worth approximately $55,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Spero Therapeutics in the third quarter worth approximately $283,000. 25.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SPRO shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Spero Therapeutics in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of Spero Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce”.

About Spero Therapeutics

Spero Therapeutics is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel therapies to address multidrug‐resistant bacterial infections. Headquartered in Boston, Massachusetts, the company aims to advance a pipeline of oral and intravenous antibiotic candidates designed to treat serious infectious diseases that pose significant public health challenges.

The company’s lead candidate, tebipenem HBr, is an oral carbapenem antibiotic being developed for the treatment of complicated urinary tract infections caused by resistant Gram‐negative pathogens.